How to Choose the Right Life Insurance Type for You

How to Choose the Right Life Insurance Type for You

There are many types of life insurance out there, but it is not as difficult as you might think. You can choose from whole life and term life, and the different variations on those. Term is often good for a set amount of time, and it then expires. But whole life goes for your entire life, as long as you keep making the payments. There are benefits and drawbacks of each one. Adding to Your Coverage Term life insurance is a relatively new kind of insurance available. You may wonder…

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Fitch labels General Electric insurance “risky”, sending share prices tumbling

General Electric Insurance - long term care

A new report called the long term care insurance backer the riskiest one in that sector. A new Fitch Rating report referred to General Electric insurance as one of the riskiest backers of long term care coverage. It pointed to the company’s substantial claims exposure and comparatively small cash reserves for paying those claims. As a result of the new designation, G.E. saw its shares take a nose dive at the start of the week. The Fitch Ratings report is issued annually. The credit ratings agency underscored concerns outlined by…

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Hybrid life insurance policies gain popularity as LTC payment plans

Claim life insurance

As long term care insurance skyrockets in price, many people are looking for alternative funding. Hybrid life insurance policies are beginning to take the place of long term care insurance policies. Traditional LTC products have plummeted in popularity due to their spiking premiums in recent years. To pay for long term care needs, consumers are turning to new types of insurance coverage. Hybrid life insurance policies are becoming a leading option in that area. These policies come in the form of life products that back long term care financing strategies.…

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Long-term care insurance premiums to see massive increase in Kansas

Long-Term Care Insurance Caregivers

State residents will see a major increase in their long-term care insurance premiums Kansas residents that have purchased long-term care insurance will be hit by significant rate increases in the near future. Policyholders have been reporting that they have been notified that they will see rate increases as high as 60%. The Kansas Insurance Department has confirmed that this is, indeed, the case, as regulators have approved significant rate increases coming from insurers. For many consumers, this may become a major financial burden that may mean they would lose their…

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Trends in long term care insurance purchasing are shifting

caregiver long term care insurance senior

According to the main industry association, people are choosing lower inflation growth options. The American Association for Long Term Care Insurance (AALTCI) has now reported on the outcomes of its 2014 study that has determined that buyers are significantly changing their buying patterns when it comes to this type of coverage. Previous years had seen customers purchasing choices that gave a 5 percent annual boost to initial benefits. However, according to Jesse Slome, the director of the association, “In years past consumers favored policies that included an option that increased…

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Long term care insurance premiums vary broadly, but are higher overall

Long Term Care Insurance Premiums on the Rise

The rates that are being paid for this coverage are dependent on a very large number of factors. A recently released industry report has shown that while the rates for long term care insurance have been rapidly on the rise, the premiums themselves vary broadly depending on a number of different factors that go into the calculations. The report showed that this year, the average rise for LTC insurance premiums was close to 9 percent. At the same time, even though the rates for long term care insurance have been…

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National Alzheimer’s Disease Awareness month draws attention to long term care insurance

long term care insurance

It also complements the fact that it November is National Caregiver Month, a celebration of over 15 million Americans. November is the time of the year which most effectively underscores the importance of long term care insurance as it is both National Alzheimer’s Disease Awareness month and National Caregiver month. This is a time in which to learn more about dementia and thank those who care for individuals affected by it. At the start of this month, President Barack Obama released a statement that recognized National Alzheimer’s Disease Awareness month,…

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